AT&T (T-1%) and Verizon (VZ-0.1%) will partly resolve a simmering debate around aviation safety by cutting 5G transmissions around airports and approaches to airports for six months.
The companies told the Federal Communications Commission that they're voluntarily agreeing to the power cut as a precaution, "though there is no credible evidence that a legitimate interference problem exists."
The move is a concession to concerns from the aviation industry, though the companies didn't directly share the idea with the Federal Aviation Administration before sending their letter to the FCC.
Shares of Gogo (NASDAQ:GOGO) that were tied to the story spiked momentarily on sudden volume but are back to up 0.2% on the day.